CIMB Pet Insurance Review: Who Will It Benefit?
CIMB Pet Insurance Review: Who Will It Benefit?
- Below average price
- Lenient on the types of breeds you can insure
- Those looking for buildable coverage
- Limited medical coverage
- High deductibles
CIMB's My Paw Pal is a standalone pet insurance plan that may win over budget-constrained cat and dog owners and customers who appreciate flexibility. It is the only plan on the market that offers certain benefits as add-ons in exchange for the lowest base plan price. However, its above average deductible and limited coverage in the base plan may be off-putting to pet owners who want to pay as little out-of-pocket as possible.
|Summary of CIMB My Paw Pal Pet Insurance|
|Cheapest base plan on the market|
|Offers theft and medical illness/burial coverage as add-ons|
|Highest accidental injury coinsurance on the market (30%)|
|Promotion: 15% off|
Table of Contents
CIMB My Paw Pal Insurance Highlights
CIMB My Paw Pal is a good option for two types of pet owners. The first are pet owners who want the cheapest possible coverage in exchange for modest coverage. The second are pet owners who don't mind paying extra for comprehensive coverage and want to customise their plan. When you don't consider the add-ons My Paw Pal offers, it becomes the cheapest plan on the market, costing 67% below average of basic pet insurance plans. For this price, you get quite modest accident coverage including accidental death, injury and third party liability. Thus, while not the most comprehensive plan available, it can be a good option for cat and dog owners who want coverage for the truly unexpected events in their pet's life.
However, for those looking for more than basic coverage, CIMB offers three add-ons for you to consider: theft coverage and medical/burial coverage. The theft benefit is fairly affordable, only S$32 extra for S$1,500 of coverage. The medical/burial coverage is much more expensive, costing as much as a standalone pet insurance plan at S$321. Despite the large additional cost, the S$3,000 worth of coverage ends up costing around the average to what you'd find in a mid-tier pet insurance plan. Thus, if price isn't an option and you want the ability to add or remove certain benefits from your plan, My Paw Pal can be a good choice to consider.
CIMB My Paw Pal may not be a good option for pet owners looking for a pet insurance plan that offers a high level of medical coverage. This is because compared to other insurers such as Prudential or Aon, who both offer up to S$10,000 of illness coverage, CIMB only offers S$1,500. Furthermore, unlike Aon, CIMB doesn't offer coverage for hereditary or congenital conditions. Thus pet owners who are concerned about being able to afford very high medical bills may fare better with a different plan. My Paw Pal may also not be a good option for pet owners who are looking for a low deductible plan. This is because its 30% accidental injury deductible is the highest on the market—meaning you'll end up being responsible for a significant portion of the vet bills. As an alternative, other plans on the market tend to have a flat fee accidental injury deductible of S$50-S$150.
Eligibility & Exclusions
You can purchase My Paw Pal for your dogs and cats with a few exceptions for certain dog breeds. Your pet has to be between 12 weeks and 7 years of age to be eligible, and it must be microchipped. Your pet does not have to be spayed or neutered, but you should keep in mind that illnesses related to reproductive organs will be excluded from coverage. Dogs over the age of 7 may still be eligible for coverage of a case-by-case basis. Lastly, dogs must be registered with the Animal and Veterinary Service (AVS) and must not be a working dog (ex: guide dogs).
- Bull Terrier
- Doberman Pinscher
- German Shepherd & related breeds (e.g. Belgian Shepherd)
- Wolf Dogs
- Any mixes of the above
General exclusions for My Paw Pal include pre-existing conditions, claims for death, accident or theft caused by negligence or criminal activity and claims arising from illnesses occurring 30 days within the policy start date. Furthermore, you will not be covered for illnesses developed or caused by factors outside of Singapore. For more general exclusions, please see the list below. For a complete list, you can read the plan's policy wording.
- 3rd party liability claims arising from injury to family members
- 3rd party liability claims for fines, penalties
- Burial or cremation claims arising form rabies
- Burial or cremation claims arising from preventable diseases
- Day-to-day and preventative care
- Treatments and conditions attributed to behavioral problems
- Cell replacement therapy
- Diseases preventable by vaccines
- Spaying or neutering
- Certain bone and joint conditions
- Non-emergency house calls and ambulance services
- Elective procedures
- Claims arising from failure to take reasonable precautions
To submit a claim with CIMB, you should download their claims form (linked below) and submit it along with other relevant forms within 15 days of the event. You can then submit all the claims and forms via email.
|Contact & Links|
|Visit a Branch||Locations|
|Customer Service Hotline||6461 6222|
|Customer Service Email||[email protected]|
|Claims Email||[email protected]|
|Claim Form||Download here|
|More Information||Policy Document|
CIMB My Paw Pal Pet Insurance Summary
Just as you'd want to protect any member of your family, you'd want to protect your beloved pet. Please see our top picks for pet insurance in Singapore if you would like to compare CIMB to other policies on the market.
|CIMB My Paw Pal||Premiums & Benefits||Deductible||Add'l Cost|
|Accidental Injury (Vet Fees)||S$1,500||30%||N/A|
|3rd Party Liability||S$250,000||S$1,000,000||N/A|
|Loss of Dog (Theft)||S$1,500||S$250||S$32.10|